President Trump Announces OPEC+ Agreement to Limit Oil Production…

Though the U.S. and Canada are not part of the “OPEC Plus” group, President Trump has  been leading negotiations between Saudi Arabia and Russia to broker a deal and stop their price war.  Today President Trump announces an agreement between the major petroleum exporting countries to curb oil production by approximately 10 million barrels per day:

Additionally, there was a loggerhead within the negotiations as Mexico did not want to cut their production by the requested amount of 400,000 barrels daily.  Mexico relies on oil as a large part of their economy. AMLO stated his economy could not withstand such a significant drop in state revenue.  Economic security is, after all, national security.

President Trump broke the OPEC+ stalemate by agreeing to decrease U.S. production by 300k/barrels allowing Mexico to drop a more manageable 100k/barrels.  Trump and AMLO reached an undisclosed agreement where Mexico will reimburse the U.S. later on.

I suspect the “reimbursement” will be more, well, strategically geopolitical than financial.  [*nudge-nudge*, *wink-wink*, *say-no-more/say-no-more*]  President Trump has an uncanny knack of collecting leverage for later, more strategic, purposes.  Just sayin’.

(VIA CNBC) […] Sunday’s emergency meeting — the second in four days — came as oil-producing nations scrambled to reach an agreement in an effort to prop up falling prices as the coronavirus outbreak continues to hammer demand. The agreement also ends a price war that broke out between Saudi Arabia and Russia at the beginning of March, which further pressured oil prices as each sought to gain market share.

The group, known as OPEC+, initially proposed cutting production by 10 million barrels per day — amounting to some 10% of global oil supply — on Thursday, but Mexico opposed the amount it was being asked to cut, holding up the final deal.

Talks continued on Friday when energy ministers from the Group of 20 major economies met, and while all agreed that stabilization in the market is needed, the group stopped short of discussing specific production numbers.

Under OPEC+’s new agreement, Mexico will cut 100,000 barrels per day, instead of the 400,000 barrels per day it had initially been asked to cut.

The 9.7 million barrels per day cut will begin on May 1, and will extend through the end of June.  (read more)

With such a significant slow-down in global oil demand due to the coronavirus mitigation efforts, massive tanker ships have been loaded with oil and sit at sea awaiting the global economy to restart generating the need for their cargo.

Two Weeks Ago…. President Trump and Defense Secretary Esper announced a major deployment of U.S. military to interdict narcotics trafficking from Central America.

On the surface the effort to deploy naval assets to the Caribbean and southern pacific is justified based on intelligence drug cartels will exploit the coronavirus pandemic to ship more narcotics into the U.S.

However, in the bigger picture there’s also a likelihood the Chinese Communist Party would work with their geopolitical allies in Central American regimes to further weaken the U.S. during a time of increased vulnerability.

In times of war, or severe geopolitical confrontation, exploiting a vulnerability is a common strategy. Therefore it’s a smart and prudent geopolitical move for President Trump and U.S. military to take very aggressive action against the cartels and their communist sympathizers. There’s more going on here than appears on the surface.

Ergo, sometime in the future…

Barr: “The president is very thankful for your cooperation“…

AMLO: “So you’re saying this is an offer I cannot refuse?“..

Barr: “The President is very thankful for your cooperation“…

 

This entry was posted in Big Government, Budget, China, Communist, Coronavirus, Decepticons, Deep State, Donald Trump, Economy, Election 2020, energy, Mexico, Military, President Trump, Russia, Saudi Arabia, Trade Deal, Uncategorized, US Treasury, USA, USMCA. Bookmark the permalink.

145 Responses to President Trump Announces OPEC+ Agreement to Limit Oil Production…

  1. Dan says:

    Barr: “The President is very thankful for your cooperation“…

    LOL.. That made my day…

    Liked by 15 people

    • bertdilbert says:

      If nobody noticed the last virus presser, Trump used this to position himself not as President but as leader of the world. Then he moved on to local news. Perhaps this is why the press seemed so awed that day.

      Liked by 14 people

      • bertdilbert says:

        I might add that Trump really did not give up anything since there was easily 300k barrels a day that was not profitable anyway. So on the face it looks like we did something, but it was nothing really. So we got something for nothing. Art of the deal.

        Liked by 22 people

        • vikingmom says:

          Amazing what happens when you have a successful businessman in the White House instead of a career politician or a “community organizer” with ZERO real world experience!!

          (Seeing Fauci today playing the backtracking weasel proves that he has never before had his judgement questioned because he has never been in the private sector where one is actually expected to produce results and defend your decisions. He has NO idea how to handle scrutiny so he comes off as both arrogant AND defensive!)

          Liked by 23 people

          • nuwildcat1977 says:

            Vikingmom…spot on about having a businessman in the White House. President Trump is wired for profitable deal making and for winning. Being a career politician is disqualifying in my view. The vast majority of career pols have no sense of managing a P & L . And a good number of them are bought off by the time they get around to running for Congress or for the presidency. A few examples come to mind: Biden, Schumer, Pelosi, Paul Ryan.

            Liked by 12 people

            • vikingmom says:

              Exactly! I noticed that all of the people who are clamoring for this lockdown to continue for as long as necessary, whatever the heck that means, are still receiving their full benefit and salaries. People who have never worked in the private sector have zero idea of how the real world works… It seems so simple to tell a grocery store that they’re only allowed to have a quarter of the customers they normally do, but yet the cost of overhead are the same. I’m flabbergasted that that is a difficult concept for people to grasp, but I am hearing from people everyday who think that way
              and any attempt to explain how a business actually works, is always met with, “well you just don’t care if people die!”

              Liked by 15 people

            • Dark Bloody says:

              This is a topic I have thought about for much of my adult life. I agree it is best a non politician be president, but also think it as beneficial that there was a career outside of politics followed by an executive office for a few years.

              Like

          • margarite1 says:

            A couple of years ago I read an account of a meeting between several men who met DJT in his office in Trump Tower and they were there to negotiate a real estate deal. The writer said that it was his group against one: DJT. In the end they weren’t sure they liked Trump all that much but agreed the deal they hammered out was fair for all, sustainable, and it was done quickly.

            As I recall these men weren’t used to someone who wasn’t intimidated by their “stature”.
            🙂

            Liked by 3 people

          • We must NEVER EVER FORGET FauChiCom’s conditions for restarting the economy:
            • NO new ChiComVirus Infections

            Like

          • Gracie Garcia says:

            … well … ah knows whatcha means … however … not all businessmen … the main quality is AMERICA FIRST. PDJT’s love of country and love of his fellow Americans is what drives him to work so hard to save his home nation.

            Over on The Dark Side of The Force, Thomas J. Donohue, Sr. of the U.S. Chamber of Commerce is a businessman BUT he is America-last and his foreign-outsourcing-and-cheap-labor racketeering is first for him and his ilk. The 82 year old Tom J. Donohue essentially works for the CCP. What a miserable waste of a life.

            Like

            • vikingmom says:

              Agree on both counts…Tom Donohue has sold out his country for power and money but what will it profit a man to gain the world and lose his soul?

              (And yes, I do know that only the Lord can rightly judge, but He does call us to be “fruit inspectors” and Donohue’s wares look pretty rancid to me!)

              Like

        • frangelica1 says:

          Yes, way before President Trump announced he would be running for President in the 2016 election, I always said that we needed a business person to become the next American President to help bring our country back on track! Was so excited when he announced he would run for President! Can still remember that day!

          Liked by 7 people

          • kurtmandoo says:

            Same here,…in fact I was ready to vote for him in 2012 when he was thing king of running in the Reform Party IIRC.

            Like

            • dd_sc says:

              Trump ran in 2000 on the reform party ticket and won their California primary with about 35% of the vote (Pat Buchanan and a woman were also running). But he dropped out shortly after the primary (California voted first for the Reform Party that year IIRC) because the Reform Party was so messed up.

              Like

          • dd_sc says:

            I remember when people wanted Lee Iacocca or the CEO of PepsiCo (Roger Enrico?) to run for president back in the late 80’s and 90’s.

            Liked by 1 person

        • Mark Smith says:

          The true situation is that there’s been a world wide oil demand drop of 25 million barrels/day. because of the economy coming to a screeching halt, caused by governments keeping us all in our places. By the middle of May, the strategic reserve may be full, there may be no place to put the extra fracked oil, and the pipelines will all be full. Trump was giving up very little by taking 400,000 barrel cuts in production from Mexico, because he knows the U.S. will have to cut much more until the economy gets moving again. At least the big three, Russia, Saudi Arabia, and the U.S. are no longer racing to the bottom. In the long run, I expect a new cartel to be formed from the big three where we set the price at 60-70 dollars a barrel and all of us will make money for a change. But at least this way the independence of U.S. oil and gas is preserved.

          For his next magic trick our VSGDJT has to make the most difficult decision of how to jump start the economy, not when, by May 1 at the latest. From my studies of Covid-19, I believe that about 15% of the country is infected or 50,000,000 people, as will be evidenced by random widespread immunoglobin testing that is just getting started in many countries. In Maine the formal number is 633, but more likely is 200,000. This means that the virus is everywhere already, and probably since December in some places. Except for the high risk elderly with co-morbidities, there’s really no reason not to go back to work, school, and play. The at-risk like myself should still try to isolate strictly, but I’m hoping my doctor will give me Zelenko’s 5 day hydroxychloraquine-azithromycin-zinc regimen before I get infected, so I can start treatment without delay. https://www.technologyreview.com/2020/04/09/999015/blood-tests-show-15-of-people-are-now-immune-to-covid-19-in-one-town-in-germany/

          Liked by 1 person

          • Sherri Young says:

            Paul Marik, MD is the chief of pulmonary and critical care medicine at East Virginia Medical School. He released his prophylaxis and treatment protocols for WuFlu on April 6th. I am afraid of posting the link because the entire document may try to open and post. Here is the part that applies to you. I found it linked on a MedCram YouTube video.
            ==========================
            Prophylaxis
            While there is very limited data (and none specific for COVID-19), the following “cocktail” may have a role in the prevention/mitigation of COVID-19 disease, especially amongst the most vulnerable citizens in our community; i.e. those over the age of 60 years and those with medical comorbidities. While there is no high level evidence that this cocktail is effective; it is cheap, safe and should be readily available. So what is there to lose?

            •Vitamin C 500 mg BID and Quercetin 250-500 mg BID•Zinc 75-100 mg/day (acetate, gluconate or picolinate). Zinc lozenges are preferred. After 1-2 months, reduce the dose to 30-50 mg/day.

            •Melatonin (slow release): Begin with 0.3mg and increase as tolerated to 1-2 mg at night

            •Vitamin D3 1000-4000 u/day (optimal dose unknown). Likely that those with baseline low 25-OH vitamin D levels and those > living at 40o latitude will benefit the most.
            ========================
            Please note that azithromycin is not used here as a prophylactic agent. What you see above can be taken for a much longer duration than anyone would take azithromycin. Quercetin is used in place of hydroxychloroquine since they work in a similar manner. Quercetin is a food supplement you should be able to get at a health food store. I am taking it.

            Liked by 4 people

          • kennney says:

            What does ‘all of us’ make money again mean?
            How does free market supply without quotas or price fixing hurt the little guy who has to budget energy a a monthly expense, along with food and everything else?

            Like

            • Mark Smith says:

              Kennney, I’m all for free markets but…oil prices have been subject to enormous swings in both directions over the last 40 years. Oil is a commodity subject to manipulation by traders day-to-day. Wouldn’t it be better to have some degree of stability in price with an implied guarantee that the industry and its workers would not be constantly threatened in its survival? Isn’t the independence and survival of the oil industry as a national security issue in the U.S. worth an international agreement that would limit the price to a narrower range, even if set by a cartel that we belonged to? I understand that low energy costs are important in the budget of most citizens, but the health of the oil industry as a whole which is made up of hundreds of companies and tens of thousands of workers is also important. One cannot operate a company adequately even with purchased hedges if the price swings continue as radically as in the past. Some agreement between major country producers is necessary to avoid just what the industry has been going through recently. 10-20$/barrel is a recipe for disaster, both in price and availability of hydrocarbons to produce electricity and heat our homes. If we want to continue our energy independence, we need to sell oil and gas at a price that will support a stable industry.

              Like

  2. trapper says:

    Collecting markers for the time, and that time WILL come, when we will ask for and expect collective and unified world action against the Chinese communists for lying about the virus they unleashed on the world and the deaths their lies caused. Big payment coming due.

    Liked by 24 people

  3. The man never stops working for AMERICA. Congress should follow his example.

    Liked by 38 people

  4. Elric VIII says:

    All things considered, President Trump is truly sitting in the catbird seat.

    Liked by 5 people

  5. JohnCasper says:

    “President Trump has been leading negotiations between Saudi Arabia and Russia to broker a deal and stop their price war. Today President Trump announces an agreement between the major petroleum exporting countries to curb oil production by approximately 10 million barrels per day:”

    Just think, if Hillary was our President what would have happened.
    1) She would not have done a thing.
    2) She would have inserted herself and got Saudi Arabia and Russia so mad at each that they would now be firing nuclear missiles at each other and maybe at us..

    Liked by 6 people

    • Joe says:

      3.) she would have gotten good and drunk and slept through it like she did during our embassy attack.

      Liked by 8 people

    • bruzedorange says:

      Or… just hit the re-set button.

      Prices and production go back to normal. Problem solved. Drinks anyone?

      Liked by 1 person

    • All Too Much says:

      “Just think, if Hillary was our President what would have happened.”

      Exactly.
      Hillary or anyone else I can think of.

      Liked by 2 people

      • Dutchman says:

        Yes, not sute there would have been much difference with Jeb or Marco,….optics perhaps, but not SUBSTANCE.

        Global Conmunist elites don’t like Saudi Arabia, Russia or the American oil industry.

        So, this agreement is a blow to THEM, and a victory for Nationalism

        With, an undisclosed favor from Amlo, in the future. I LIKE it. Another example of PDJT demonstrating he can chew gum and walk, works towards SOLVING problems, not merely ‘managing’ them, and achieving GOALS.

        AShe has said, he has NEVER liked OPEC, its a CARTEL. As largest oil producer, we are the big kid on the block, and instead of the cartel dictating to US, we encourage them to do the sensible thing, for all concerned.

        U.S., RUSSIA, SAUDI ARABIA, AND EVEN MEXICO are ‘Nationalist’ governments;
        AMLO IS Socialist, but he is NATIONALIST Socialist, just as Russia IS Conmunist, but under Putin it is NATIONALIST Conmunist, NOT ‘Marxist’. Saudi Arabia is a not so benevalent monarchy, but it is very much NATIONALIST.

        CHINA and the Globalist elitist who support them, seem to be totally ‘out of the picture’, on this one!

        Unless I am missing something,…….?

        Liked by 2 people

    • TarsTarkas says:

      IMO Her Odiousness would have been very active during the negotiations, soliciting bribes (I mean contributions) via donations to the Clinton Crime Syndicate, expensive speeches, etc. etc.
      ‘What’s in it for meeeee!’

      Liked by 5 people

    • And just think what would have happened if Old Joe was President. I have no idea and neither does he.

      Liked by 6 people

    • J Gottfred says:

      3) She would have required a $1 billion donation to the Clinton Foundation each by both the Saudi’s and the Russians.

      Liked by 2 people

    • Due Gonzalez says:

      She would have sent her deep state minions and IC thugs to broker a deal for “their own good” and then funnel the money into the family foundation (coffers). And made sure that middle class Americans paid the tab by increasing prices, lost jobs, more regulations and increased Carbon, local and state taxes.

      Liked by 1 person

    • dd_sc says:

      She would have had the Clinton Global Initiative mediate talks that resolved nothing other than collecting a huge fee for USA to sit on the sidelines.

      Like

  6. Eric C. says:

    It was posted else where or another site I visit, be interesting to see the global warming crowds explanation how CO2 levels haven’t declined with a drastic reduction in fossil fuel usage.

    Hopefully this is another front we can win on due to this “episode”.

    There is no other President that could do show much while managing the worse crisis to ever be thrown at an administration.

    “The Art of the Deal”

    Liked by 12 people

  7. Bob Lynch says:

    President Trump is operating at such a high level, few can appreciate it, certainly not the MSM, who continue to squabble about that which has no meaning. Thanks Sundance for continuing to give insight into what President Trump is doing to confront the complex and dangerous problems the world is facing. If not President Trump, than who?

    Liked by 7 people

  8. Maybe Mexico will finally be paying for the wall…at a later date….when it’s finished.

    Liked by 2 people

    • bruzedorange says:

      Yes. That was my thought…
      Sometime before November, Mexico cuts a check designated toward the wall, for the amount of what they’ll save letting their army in the north stand down.

      Like

    • felipe says:

      Marka: same thought, sort of. To certain degree, Mexico IS paying for the “wall” right now if they, as PDJT has said repeatedly, have 27,000 Mexican Army soldiers patrolling their border. I’m assuming that’s both northern and southern borders, and maybe other ports of entry/exit, seaports, airports, etc. If not a permanent fix on Mexico’s part. it seems to be buying time for hard wall construction which, I guess, is steadily on-going but has a LOT of mileage still to cover to become the 21st Century Great Wall.

      Liked by 1 person

    • teabag14 says:

      😁 Promises Made. Promises Kept. KAG.

      Like

  9. wilski says:

    PDJT big picture leverage. The Art of the Deal. Post Wuhan Virus. Hammer time.

    Liked by 1 person

  10. NJF says:

    Great news. I’m sure MSM will be screeching that’s he “spoke with MBS & Putin”

    🤣🤣🤣

    Liked by 3 people

  11. barnabusduke says:

    I LOVE the Monty Python (Holy Grail) references that Sundance often uses! 🙂

    Like

  12. realeyecandy1 says:

    but ARE we cutting production or not??? Our energy leaders are in trouble

    Like

    • Barnestormer says:

      Be interested to know how cuts in U.S. production are effected by executive action. Jawboning? Temporary restrictions on federal leases? Some atypical operation of the Defense Production Act?

      Is it actually a production cut, or diversion from the open market, say by purchase for the Strategic Petroleum Reserve?

      Like

      • There was no sense to pull oil out of the ground in the US once the price got so low. We already reduced by 300000 barrels per day, due to supply and demand issues. PDJT said it multiple times in his press conferences.

        We filled the strategic reserve by purchasing the virtually worthless inventory they had just sitting there.

        Liked by 1 person

  13. Paul B. says:

    President Trump: good for the US, good for the world. And he operates at this high level of achievement despite unprecedented and unprincipled domestic opposition.

    Liked by 3 people

  14. Vince says:

    How can we agree to cut production? We don’t have a state owned oil producer.

    Like

  15. Mark1971 says:

    How exactly does a president get private oil companies to cut production? Is he going to revoke permits issued for drilling on federal land?

    Like

  16. Publius2016 says:

    China owned “Virginia Based” Smithfield shuttered their plants soon after this agreement…guess they want to hurt American Interests again…

    We’ll see if DPA is used…

    Liked by 1 person

  17. Zydeco says:

    I’m happy with anything Mexico is doing to stop illegals and Soros caravans before they hit our border. Payment enough, saves us billions.

    Like

  18. If there is anyone in the world who knows how to not let a crisis go to waste, it is our President Trump. Say no more.

    #MAGA2020 & FOREVER

    Liked by 8 people

  19. LafnH20 says:

    From SD’s.. “There’s more – going on here – than appears on the surface. 🙄

    Liked by 6 people

  20. Deplorable_Vespucciland says:

    Meanwhile the crooked democrats are up to no good regarding the Middle East:

    ~~ Texas Sen. Ted Cruz unloaded on his Democratic colleagues on Friday in response to Sen. Dianne Feinstein sending a letter to President Trump declaring that she is “disappointed” in his administration’s plan to block funding to the world’s leading state sponsor of terrorism, Iran. The Democrats’ demand of Trump to help Iran get $5 billion in aid, Cruz noted, comes “at the exact same time” that they are “blocking desperately need relief to small businesses in America.”

    In late March, a group of Democratic lawmakers — among them Reps. Alexandria Ocasio-Cortez (NY), Ilhan Omar (MN), and Rashida Tlaib (MI), and Sens. Bernie Sanders (I-VT) and Elizabeth Warren (D-MA) — sent a letter to Secretary of State Mike Pompeo and Treasury Sec. Steve Mnuchin calling for the easing of U.S. sanctions on Iran during the coronavirus pandemic, a request that was dead on arrival.

    Iran has since requested $5 billion in aid from the International Monetary Fund (IMF). In response to the Trump administration indicating that they have no intention of allowing the terror-sponsoring state to get the massive infusion of money, Sen. Feinstein sent her own letter on Thursday expressing her disappointment…

    In response to the pair of moves, Cruz called out Feinstein and the Democrats for what he suggested were some backward “priorities.” ~~ from the Daily Wire

    Liked by 5 people

  21. Rick554 says:

    I’d call that WINNING! Well Done PRESIDENT Donald J Trump!

    Like

  22. John-Y128 says:

    Yesterday gas was $1.75/gal at the pump, will it be $2.40/gal next week?

    Like

  23. frangelica1 says:

    Really great news to help stabilize oil prices. Many fields in the US cannot produce at the current crude prices and many, once shut in, become very difficult to reopen, if they can at all. President Trump recognizes that the US energy independence is very important just as our other manufacturing of items for the US needs to be done on US soil to prevent supply disruptions, as seen with foreign produced medical supplies and pharmaceuticals during the Covid- 19 crisis. President Trump has known the importance of US independence of manufacturing and supply even before his election, but maybe many citizens that didn’t recognize the importance of what he was saying have now seen during the Covid -19 what happens when everything gets produced outside of the US!

    Liked by 2 people

  24. Ausonius says:

    I wrote a day or two ago about Chinese military maneuvers in Pakistan and near Taiwan: trust the Chinese to making trouble as often as possible and as ubiquitously as possible to squeeze the United States during this shutdown.

    Their presence in Central and South America – or anywhere! – means nothing good for us or for any freedom-loving person of any nationality.

    Like

  25. Perot Conservative says:

    1. At these amazingly low prices, would love to further expand out strategic oil reserves.

    2. I wonder if there is a way now for Boeing, or maybe the commercial airlines, to lock in cheap jet fuel?? A major component of airline costs.

    A) Help out the airlines shirt term.
    B) Help out oil producers.

    Mark Cuban on Fox (?) today. He seemed to …

    1. Tried to throw cold water on the economy coming back strong in Q3 & Q4.
    2. Being COY about a Presidential run in 2020. Didn’t know he is a Liberal.

    Like

    • jnr2d2 says:

      It’s called “options.” You can pay a fee today for a fixed price delivery in any month you want, and as much as you want. This is SOP in the airline industry.

      Like

    • Strangely Accurate says:

      Why is he jabbering on abut a run for presidency? PDJT has enough delegates to be the Repub. candidate and if Cuban runs as an independent, he would more than likely take votes away from Biden???

      Like

    • unconqueredone says:

      I’m not a Mark fan, but I’d classify him as a libertarian but not a leftist. IMHO he’s planning a run for 2024, and is setting everything up now.

      Like

      • mac says:

        Cuban doesn’t, and hasn’t ever, impressed me much. I hope he does run in 2024. He will get his gluteus maximus handed to him, well kicked, along with a heavy bill. His candidacy will make Bloomberg’s shot this year look like genius by comparison.

        Like

  26. Bone Fish says:

    Hurray, we get to pay more for everything after oil prices push back up.

    Liked by 1 person

  27. MfM says:

    I usually fill our oil tank over the summer when price is the lowest. I just did it.

    Like

  28. MLK says:

    With little notice because it makes UniParty politicians and their Allied Media feel bad about themselves, the POTUS and AMLO have worked together for the betterment of their country’s and countrymen.

    USMCA is true economic integration in ways that the disastrous NAFTA was not. Behind the curtain, Mexico’s oil production will have pride of place access to the American market as US production inevitably declines.

    This outcome reveals the contours of what has already been agreed in terms of oil industry and North American market unification.

    Eventually Venezuela will be rejoin the Western Hemisphere once Russia and China have had their fill of throwing more $Billions after bad keeping the bus driver Maduro in power. Both would have already cried uncle — Russia in for $25B; China $60B or more) — in return for pennies on the dollar back but with the oil market so oversupplied it simply hasn’t been in the interest of anyone to put together a deal that brings Venezuela’s production back on line to any meaningful degree.

    Like

    • mac says:

      MLK,
      Mexico’s oil production will drop off before that of the U.S. will. Mexico is the land of the fast buck, crooked deal, corrupt give-me-my-money-today-and-to-Hell-with-the-future government and business organizations. PEMEX ruined Cantarell that way. I worked with these people in South Korea for four years on two major projects with them. Penny wise, pound foolish and crooked as a dog’s hind leg, with the corruption going all the way to the top. Working with PEMEX and Grupo R made me think the Black Legend was spot on.

      Like

  29. TreeClimber says:

    President Trump has an uncanny knack of collecting leverage for later, more strategic, purposes.” “And India has loosened restrictions and will export HCQ to the US”…

    On the other hand, I have to admit, my family has really benefited from these extremely low gas prices… my husband has reduced hours but he’s still driving the same distance every day and we still need to fill up… I’ll be sad to see them climb back to where they were.

    Liked by 1 person

    • Oil price stability is what we need. If high paid oil workers are not working, the economy suffers. When the economy suffers it eventually trickles down to everyone.

      If gas prices effect a family significantly, they need to be driving something that gets 30 miles to the gallon.

      Like

  30. Deplore Able says:

    “I suspect the “reimbursement” will be more, well, strategically geopolitical than financial. [*nudge-nudge*, *wink-wink*, *say-no-more/say-no-more*] President Trump has an uncanny knack of collecting leverage for later, more strategic, purposes. Just sayin’.”

    OK AMLO, here is the deal. We are going after China hard. USMCA is just about to kick in. We are bringing many factories back to the USA and North America (i.e., Mexico). You have been a good friend to us with your military securing the border. We are going to be a great friend to you. Many factories will come to Mexico. Jobs, jobs, jobs. Your people will prosper. We will also help you free your people from slavery to the cartels. You will be Mexico’s Abraham Lincoln. Your name will be revered for generations to come. Think about a Mexican Mount Rushmore.

    Like

  31. joebkonobi says:

    Anyone remember Obama’s “Leading from Behind”? Thank God and Greyhound he’s gone! PDJT knows how to lead and where to lead from. He really is the “BOSS”. Next up?. . .America is open for business again!

    Liked by 1 person

  32. Chip Doctor says:

    Having lived in Dallas for 33 years, I am a Mavericks fan for life. However, I despise Cuban. He is right up there with Greg Popovich, Steve Kerr and LeBron Malcolm X James.

    He suggests that PT did the PPP wrong and that instead he should have covered all business overdrafts allowing them to just keep on chugging. Businesses would sure love that. I can see a restaurant ordering a 10 year supply of styrofoam take out boxes. With a check.

    Liked by 3 people

  33. cherokeepeople says:

    funny feinstein wants us to kick in on the 5 billion to iran but when we want 250 mil for small businesses here it’s a big nope.screw the dimwits

    Like

  34. Dee Paul Deje says:

    They finally got him. RUSSIAN COLLUSION

    Liked by 2 people

    • TwoLaine says:

      I think Mexican collusion is more like it. Just look at that convo that Barr and AMLO are having. Almost straight out of a Sh1tforBrains unsold script. 😉

      Like

  35. Do NOT stop their price war!

    It is great for the consumer.

    I like cheap gas!

    Gas tax in Wisconsin:

    18.4 (fed) + 33 (WI) = 52.4 cents per gal gas tax

    The gas is less money than the tax sometimes.

    Time to lower the gas tax.

    Liked by 2 people

    • Eric says:

      If you go too low, you destroy our energy sector. Then we’re at the mercy of foreign oil again. You want to go to war in the Middle East again?

      Liked by 2 people

      • That is not true. We are not at the mercy of ANY country for anything, except maybe cheap labor. We don’t need cheap/slave labor.

        We have our own resources of everything. Other countries need US and not the other way around.

        Cheap oil also means cheap manufacturing.

        Liked by 1 person

        • Eric says:

          Wrong. The survival of our energy sector depends on it remaining in business. Foreign firms have a long history of dumping to drive our companies out of business and then raising prices.

          Were you not alive during the past 50 years when we were at the mercy of OPEC?

          Trump changed that. And now you want to go back?

          Liked by 1 person

          • You must be out of your mind brainwashed!

            Up is down and left is right for you.

            America first!

            Low prices are good, high prices bad!

            Competition is good!

            Monopoly is bad!

            Free enterprise and supply and demand!

            Tax is bad and tariffs are GREAT!

            Big government is bad and an ity-bity tiny government is good.

            Again – the United States of America with its incredible Citizens don’t need them, they need US!

            Like

  36. thehawkeyehoneypot says:

    I live by walcott iowa. One of the worlds largest truckstops on i80. The say their gas pumps are down 45% right now. Diesels sales are stable. I will say as a driver i enjoy the $1.15 gas i got today but its not reasonable to expect this in the future.

    Liked by 2 people

  37. sarasotosfan says:

    We do not want to see full oil tankers mysteriously sink.

    Liked by 2 people

  38. Sherri Young says:

    In Texas, our oil and gas regulator is the Texas Railroad Commission. (Sigh, it’s a long story. No, you may NOT post a ballot initiative to change the name.) The TX RRC will have a meeting on Tuesday to discuss demand. Here is the only agenda item:

    IN RE: MOTION FOR COMMISSION CALLED HEARING ON THE VERIFIED COMPLAINT OF PIONEER NATURAL RESOURCES U.S.A. INC. AND PARSLEY ENERGY INC. TO DETERMINE REASONABLE MARKET DEMAND FOR OIL IN THE STATE OF TEXAS

    I am sure that the Trump / AMLO deal will be a big part of the discussion if anyone wants to watch.

    Like

  39. Sherri Young says:

    IMO, the Trump / AMLO deal is brilliant. Here is how Mexico News Daily reported the story from the Mexican perspective. The headline is

    Trump to the rescue: US offers to cut production on Mexico’s behalf, says AMLO

    https://mexiconewsdaily.com/news/us-offers-to-cut-production-on-mexicos-behalf/

    Liked by 2 people

  40. JohninMK says:

    Trump has good negotiating skills in situation that suits them. This is not one of them. This is no real deal, it is more like trying to staunch an artery wound with some Elastoplast. It might look good for a short while but then ‘Pop’ blood everywhere.

    There is no easy solution to this one, certainly not one made over a few phone calls. This is fundamental problems hitting at the same time:
    – World demand for oil products already dropping due to recession
    – Saudis and Russians getting fed up that whilst they restrict their production the just US increases its own
    – the fall in demand has now accelerated dramatically by COVID lockdowns and the subsequent increased recessions worldwide now and forthcoming.

    This deal cuts perhaps 7mbpd out of daily production of about 100mbpd when a cut of at least 25mbpd was needed.This will not stabilise the price let alone increase it. What happens now is basically survival of the fittest (cheapest producer in this case). The only way Trump can save US shale is by imposing an import tariff to artificially keep oil prices high in the US. Without that shale production will taper down to minimum levels to keep the pipes free within 18 months.

    Meanwhile, on the other side of the cost equation, big consumers of oil like the EU, China and ironically the US, the biggest, are all in favour of low prices.

    There is another problem, the relative amounts of gasoline and diesel in crude. Simplistically you have to produce both so if gas demand goes through the floor and diesel holds up, as now, what happens to the surplus gas once storage is full? Nowhere to go so, production has to be cut reducing supplies of diesel.

    This is going to be a huge issue among the producers leading to serious upheavals (revolution in Saudi anyone?) before someone steps in and sorts it.

    Like

  41. Carter Burger says:

    Cheap gas was fun while it lasted. I mean, gas was under $1.50, I was grounded at home…felt like I was back in high school. I guess it will be over $3 before the end of the month now.

    Like

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